Stocks finish lower…Tech and bank stocks sink…Ford is asked for Explorer recall
NEW YORK (AP) – Stocks have finished the day lower, following a swift sell-off in the final minutes of a shortened trading session ahead of the Independence Day holiday. The losses snapped a three-day winning streak for the stock market, wiping out modest gains from earlier in the day. The Dow industrials slid 132 points. The S&P 500 is down 13 and a-half points.
NEW YORK (AP) – Technology and bank stocks took some of the heaviest losses in today’s shortened trading session. Chip maker Micron Technology slumped 5.5 percent to $51.48, while Charles Schwab dropped 2.1 percent to $50.24.
NEW YORK (AP) – Crude oil futures are lower after an early rally faded. Benchmark U.S. crude lost 9 cents to $73.85 a barrel in New York. Brent crude gave up 2 cents to $77.28 a barrel in London.
DETROIT (AP) – A nonprofit auto safety advocacy group is asking Ford to recall 1.35 million Explorer SUVs due to continued complaints of exhaust fumes in the passenger compartments. The Center for Auto Safety says it found 44 complaints in a government database about fumes and potential carbon monoxide after owners had taken Explorers in for free repairs in a customer service campaign.
TOKYO (AP) – Japanese media startup Uzabase is acquiring Quartz, a New York-based online business news platform, from Atlantic Media. Uzabase’s deal with the U.S. media company is valued at between $75 million and $110 million, depending on Quartz’s financial performance. Both sides say the deal is expected to close within the next 30 days.